Right guy at the wrong time?

Raghuram Rajan is not known to mince words. His candour was on display at a speech he gave in New Delhi on 14 April to an audience comprising some of the most powerful people in the country, including Prime Minister Manmohan Singh. “India’s star has dimmed in the last few months, as our governance is besmirched by corruption scandals and our macroeconomic health has deteriorated,” Rajan said. “Alarm bells should sound when domestic industry no longer wants to invest in India, even while eagerly investing abroad."

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